Debt Consolidation
It’s a new year and a new you. Now could be a great time for you to consider debt consolidation so you can leave your old debt behind.
What deposit do I need
When you’re thinking about getting your First Home, you need to consider two things;
- You have enough income to service your lifestyle, your current debts and the future loan repayments
- You have security for the loan, in addition to the property you’re purchasing – typically this is a cash deposit.
New Years Resolutions
Welcome to 2018!
I can’t believe it’s that time of the year again… that time where I have to pause and think before writing the date… 20 and… 20 and… 18!
Well if you’re anything like the rest of the population, you’ll be taking some time to think about what you want to get out of the New Year, and setting some New Years Resolutions, if so here’s some tips for you to stay on track and achieve them;
Should I Fix My Interest?
You may have heard that interest rates are looking to increase in 2018. If this happens or not is speculation and know one really knows when, how often and how much interest rates may change. Having said that there is that old saying…
“What goes up, must come down”
and the same can be said for the reverse. That’s probably why I have a lot of client’s asking me recently if they should Fix their home loan or stay on a Variable rate. The only person who can answer that is you but certainly here are some things I share with my clients to help them decide.
Help for First Home Buyer’s
There’s so much talk about helping First Home Buyer’s get into their first property, and yet, at the moment there is limited help being supplied.
Offers such as, discounts on Stamp Duty, special Grants and First Home Super Saver account but it isn’t enough to get more First Home Buyer’s out of their rental properties and into the property Market.
I have had countless appointments with First Home Buyer’s that I wish I could have spoken with them 12 or 24 months beforehand to go over what they need to do to put them in the best positon to be purchasing their First Home. Things like, how much they need to save, how they need to structure their banking, what debits will have a negative impact on their borrowing capacity and much, much more. All these things can either set you up for success when you do decide to enter the Property Market or set you further back.
And the good news is… help is on the way!
Savings accounts Vs Loans- How to really save money
Savings accounts are a great place to store extra funds or save for your deposit however if you have a loan or credit card debt then you should reconsider your savings account…
In my years working for one of the Big 4 Banks I saw a lot of clients young and old with all types of savings accounts. Savings accounts are a great way to store extra funds whilst making some interest from the bank.
The only issue I see is a lot of people keep their savings account even after they get a personal loan, home loan or credit card balance. In some cases that’s fine, a great way to keep your savings separate and some loans don’t allow you to ‘offset’ your savings however if you do have a loan (of any kind) that will allow you to offset your savings then consider this;